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Many writers upon the science of political economy have declared that it is the duty of a nation first to encourage the creation of wealth; and second, to direct and control its distribution. All such theories are delusive.
Leland Stanford
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The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science.
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Wherefore it is impossible to succeed in comparing wealth of different eras or different nations. This, in political economy, like squaring the circle in mathematics, is impracticable, for want of a common mean or measure to go by.
Jean-Baptiste Say
Some writers maintain arithmetic to be only the only sure guide in political economy; for my part, I see so many detestable systems built upon arithmetical statements, that I am rather inclined to regard that science as the instrument of national calamity.
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On the wisdom with which we bring science to bear in the war against disease, in the creation of new industries, and in the strengthening of our Armed Forces depends in large measure our future as a nation.
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